EASTMONEY(SZ:300059) EBSCN·2025-03-17 00:43Investment Rating - The report maintains an "Accumulate" rating for the company [5][9]. Core Insights - The company achieved a revenue of 11.6 billion yuan in 2024, a year-on-year increase of 4.7%, and a net profit of 9.61 billion yuan, up 17.3% year-on-year [5][6]. - The company's performance was positively influenced by the recovery in the capital market, with significant growth in both revenue and profit in Q4 2024 [6][9]. - The company is focusing on an "AI + Finance" strategy, leveraging its internet finance leadership and large customer base to expand its business [9]. Financial Performance Summary - In 2024, the company's revenue from securities and information technology services was 8.49 billion yuan and 3.11 billion yuan, respectively, accounting for 73.2% and 26.8% of total revenue [6][8]. - The average daily trading volume in the A-share market was 12.1 trillion yuan, a year-on-year increase of 22%, contributing to a 23.1% increase in net commission income to 6.11 billion yuan [7][8]. - The company's self-operated business revenue increased by 50.8% year-on-year to 3.37 billion yuan, driven by significant improvements in fixed income business returns [7][8]. Future Earnings Forecast - The company is expected to achieve net profits of 10.75 billion yuan, 11.91 billion yuan, and 12.54 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding EPS of 0.68, 0.75, and 0.79 yuan [9][11]. - The report predicts a P/E ratio of 35.86, 32.39, and 30.75 for the years 2025, 2026, and 2027, respectively [11].